Smart Polymers Market Smart Polymers Marketm

Smart Polymers Market

Smart Polymers Market size is anticipated to witness a promising growth over the forecast period (2020-2027), owing to the growing demand for environment-friendly materials in textile, automotive, nuclear, and automotive industries. Smart polymeric materials include different compounds that have the ability to transform their characteristics depending on the environment.

Increasing usage of smart polymers in automotive, textile, and biomedical owing to their stability, elasticity, and biocompatibility is a key driver fueling the smart polymers market share. As per the Smart Polymers Market analysis, expansion in healthcare industry, ongoing innovations in the medicines, and growing application of smart polymer in surgical processes will further drive the market growth. As per the World Bank, the overall healthcare expenditure was 9.8% of the nation’s GDP because of the growing emphasis on modernizations in diagnosis, treatment and prevention of disease.

By type, physical stimuli responsive polymers is projected to witness a significant demand over the forecast period, owing to the growing demand for photo-sensitive, magnetically responsive photo- and shape memory polymers across automotive, biomedical & biotechnology, packaging, and textiles.

By end-use industry, the biomedical and healthcare segment is predicted to expand at a faster CAGR due to the growing use of smart polymers to develop advanced devices such as pacemaker, knee replacement, artificial bones, and dental implants.

By region, North America is forecast to surge at a notable rate over the coming years. This significant growth is attributed to the growing demand for latest drug delivery technology.

Key players operating in the market, include Huntsman International LLC, The Lubrizol Corporation, Akzo Nobel N.V., BASF SE, Evonik Industries AG, Covestro AG, E. I. Du Pont De Nemours and Company, Merck KGaA, and Natureworks LLC among others.

Key Developments:

In 2020, Evonik Industries AG established a latest production method for the high-performance polymer polyamide 12 (PA 12) in North Rhine-Westphalia, Germany. The company intends to expand the overall PA 12 capacity by more than 50 percent and acquire competitiveness in markets.

Smart Polymers Market Segmentation:

Smart Polymers Market Type

• Physical Stimuli-Responsive


• Chemical Stimuli-Responsive


• Biological Stimuli-Responsive


• Self-Healing Polymers


• Others

Smart Polymers Market by End-Use Industry

• Biomedical and Healthcare


• Electrical and Electronics


• Textile


• Automotive


• Others

Smart Polymers Market by Region:

• Asia Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Rest of APAC
  
  
  
  


• North America
  
  
  
  • United States of America
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • United Kingdom
  
  
  • Germany
  
  
  • France
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• RoW
  
  
  
  • Brazil
  
  
  • South Africa
  
  
  • Saudi Arabia
  
  
  • UAE
  
  
  
  

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